Best Of Product

in Personal Lines of Credit from Elevate Credit


in Personal Lines of Credit from Elevate Credit
SuperMoney Net Recommendation Score -29  


This product is mostly not recommended by SuperMoney users with a score of -29, equating to 2.4 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Mostly not recommended

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Community Rating Mostly not recommended
Loan Amount $500 - $4,500
APR  (Fee-Based Product) Starting at 137%
(Verified 08/04/2023)
Number of Reviews 150

Elastic Review

Elastic is offered through Elevate Credit, a direct lender founded in 2014 and based in Ft. Worth, TX. It is made possible by a bank partnership with Republic Bank & Trust Company. Elastic are available in 39 states (and Washington, DC).

Elastic FAQ

What APRs does Elastic offer?

Elastic offers a fee or charge based product that starts at 137% APR.

Unlike most credit lines, which typically charge a simple daily interest rate, Elastic does not have a periodic interest rate. Instead, Elastic charges a fee when you take a cash advance, plus a fee each payment period based on your ending principal balance (inclusive of the cash advance fees). The equivalent APR will vary depending on the amount borrowed and how long you take to repay, starting at 137% APR.

Does Elastic charge an origination fee?

No, they do not charge an origination fee.

An origination fee is what some lenders charge for processing, underwriting, and funding a line of credit. These fees can range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.

Does the Elastic charge a cash advance fee?

Yes, they may charge a fee of 5% to 10% of the amount of each cash advance.

Does the Elastic charge a statement balance fee?

Yes, Elastic can charge a statement balance fee of $5 to $350 each billing cycle. up to 350 each billing cycle.

Does Elastic charge a late fee?

No, they will not charge you a late fee.

How much can you borrow via Elastic?

Upon approval and based on your credit score and credit history, your personal line of credit will be assigned a credit limit of at least $500 and as much as $4,500. .

Elastic Fees
Cash Advance Fee 5% - 10%
Origination Fee No
Prepayment Fee? No
Late Payment Fee No
Statement Balance Fee $5 - $350

What do you need to qualify for Elastic?

Elastic does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Elastic does not have or does not disclose a minimum annual income eligibility requirement. Elastic only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Elastic product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Elastic.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid personal checking account
  • Proof of identity
  • Proof of citizenship or residence permit
  • Proof of residence

What is the estimated funding time for a personal line of credit?

Elastic will typically provide a credit approval decision in less than an hour and fund the line of credit within 1 business day.

Does Elastic report your account activity to credit bureaus?

Yes, Elastic reports your account activity to the following credit reporting agencies:

  • Clarity Services

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

Is Elevate Credit a legit company?

Elevate Credit was founded in 2014, it is a well-established company that has been in business for 9 years. Elastic are mostly not recommended by SuperMoney community users.

How to apply for Elastic

  • Visit
  • During the application process, you will be asked to provide a valid email address, and to consent to receive electronic disclosures. You will be asked for personal information including details about your residence, income and Checking Account. You will also need to verify your identity which may include confirmation of your active checking account.
  • Check the information is accurate and submit your application.
Elastic Disclosure: The Elastic line of credit is offered by Republic Bank & Trust Company, member FDIC. Cash Advances requested and approved by 6:00 p.m. ET (3:00 p.m. PT) are typically funded the next business day if you elect to receive your Cash Advance by direct deposit. Each Cash Advance from the Elastic line of credit is subject to a 5% or 10% Cash Advance Fee depending on your billing cycle. A portion of your principal is due each billing cycle, and if you have an ongoing balance, a Minimum Charge of $0.00 to $270.00 will apply. Consult the Elastic Credit Agreement and Terms and Conditions for additional information. Elastic is an expensive form of credit and should not be used as a long term solution. You may be eligible for an Elastic Account if you meet and maintain certain criteria established by us, which may change at our discretion. As of the effective date of these Terms & Conditions, the eligibility criteria are as follows: You are not a Covered Borrower under the Military Lending Act (32 C.F.R. § 232) at the time of application; You are at least 18 years old (or at least 19 years old if you are a resident of Alabama or Nebraska); You reside in a state in which we offer Elastic; You have a regular source of income or benefits; You have at application and maintain a valid Checking Account; You make payments using one of the payment options described in the Terms & Conditions; You provide a valid e-mail address and consent to receive electronic disclosures; You meet our credit underwriting standards; and You agree to and are not in default of the Terms & Conditions. Your Elastic Account is established upon approval and verification of the information in your Application.
SuperMoney Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Elastic

Elastic is the easy way to access money when you need it. Once your Elastic Account is open and activated, you can access money whenever the need arises. With Elastic, you request Cash Advances online. As you repay your Balance, you can request additional Cash Advances up to your Credit Limit.


  • Headquarters
  •   4150 International Plaza
    Suite 300
    Ft. Worth, TX 76109 USA
  •   Visit Site

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday Closed

Other Services by Elevate Credit


  Available in 39 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Delaware
  • Florida
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Mexico
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington
  • Washington, DC
  • Wisconsin
  • Wyoming

Feature Breakdown

Cash Advance Fee (%) 5% - 10%
Minimum Payment $0
No Late Fees
No Origination Fee
No Prepayment Fee
Statement Balance Fee $5 - $350
Checking Account Required
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Individual Applications
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • Cash
  • 1099 Misc. Income
  • Tax Returns
Verification Documents Required
  • Proof of citizenship/residence (Green Card)
  • Proof of Identity
  • Proof of Residence
Approval Speed 0 hours
Credit Bureau Reporting
  • Clarity Services
Customizable Payment Dates
Funding Time Range 1 day
Payment Options
  • Automatic Payments
  • Check by mail
  • Credit/Debit Card
APR (Fee-Based Product) Starting at 137%
(Verified 08/04/2023)
APR Type Fee-Based Product
Loan Amount $500 - $4,500

Elastic Community Reviews


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This product is mostly not recommended by SuperMoney users with a score of -29, equating to 2.4 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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